Wednesday, April 08, 2009
Cramerica took another blow to the belly last night as Nouriel Roubini laid into the embattled CNBC host following on the heels of Cramer's disastrous run-in with Jon Sewart.
Just weeks after "The Daily Show" host Jon Stewart took Cramer to task for trying to turn finance reporting into a "game," famous bear economist Nouriel Roubini criticized Cramer on Tuesday for predicting bull markets.Cramer said something about buying by retail investors being a big factor if stocks decline from current levels since they "can't afford to miss" another rally. One could argue that many investors can't afford not to sell into the current rally, given that many of them are taking an entirely new, much more pragmatic view of both their finances and the stock market.
"Cramer is a buffoon," said Roubini, a New York University economics professor often called Dr. Doom. "He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong. And after all this mess and Jon Stewart he should just shut up because he has no shame."
Cramer, the host of CNBC's "Mad Money" show, recently wrote in a blog that Roubini is "intoxicated" with his own "prescience and vision" and said Roubini should realize that things are better since the stock market's recent bottom in early March.